The Cabinet of Ministers of Ukraine has approved a draft law on ratification of the intergovernmental agreement between Ukraine and Korea. The economic development and Cooperation Fund of the Republic of Korea will be able to provide Ukraine with a loan of up to 2 2.1 billion. This was announced by the government's representative in Parliament Taras Melnychuk in Telegram, writes UNN.
The draft law "on ratification of the framework agreement between the government of Ukraine and the government of the Republic of Korea on loans from the economic development and Cooperation Fund for 2024-2029" was approved
According to him, the draft law proposes to ratify the framework agreement between the government of Ukraine and the government of the Republic of Korea on loans from the economic development and Cooperation Fund for 2024-2029, made on 19.04.2024 in Washington.
"The framework agreement provides that the Government of the Republic of Korea provides an opportunity to receive loans from the economic development and Cooperation Fund up to the maximum amount of obligations in Korean won, not exceeding the equivalent of 2 billion 100 million US dollars for 2024-2029 to finance the fund's loan projects in Ukraine. The conditions for each individual project will be defined in each individual loan agreement," Melnichuk said.
According to Prime Minister Denis Shmygal, the government also distributed funds from the International Bank for reconstruction and development within the framework of the ARISE project. This is UAH 2.4 billion to support Ukrainian farmers.
"We are talking about loan guarantees to encourage lending to small and medium — sized agricultural producers, as well as grants for small farms," Shmygal said.
Among other things, the government decided to attract a loan from the Council of Europe Development Bank in the amount of 100 million euros. According to the prime minister, these are funds for the implementation of the project "Nome. Compensation for destroyed property".
The Cabinet of Ministers also approved a mechanism for stimulating the creation of industrial parks. The founders of the park will receive irrevocable funds for the construction of engineering and transport infrastructure or compensation for the cost of connecting to the power grid.
"This amount is up to UAH 150 million, which will cover up to half of the costs, and for de — occupied territories-up to 80% of the costs. Currently, 81 industrial parks have already been registered in Ukraine," the prime minister said.
Shmygal stressed that the government expects the process to accelerate, and that these sites will attract significant amounts of domestic and external investment.